(Originally, The Next Web said it paid 3.6 million yuan, which is ~$577,000. It updated its story to reflect that it is actually $3.6 million. We have updated our story, too.)

Xiaomi is immensely popular in China. It makes high-quality Android smartphones, but sells them for cheap. They're usually only available online and new models sell out within minutes. The company is often called "the Apple of China" because it evokes the same kind of fervor Apple does in the U.S.

Xiaomi is now trying to expand outside China. It announced today that it'll start selling its products in 10 new countries this year, including India and Brazil. It also announced a few new products, including a sleek-looking streaming TV box called the Mi Box Pro, which is capable of pumping out 4K, or Ultra HD, video.